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Forex Technical Analysis & Forecast 04.06.2021

EURUSD, “Euro vs US Dollar”

After finishing the descending wave at 1.2150 and breaking it to the downside, EURUSD is expected to continue this decline towards 1.2084. Later, the market may return to 1.2150 to test it from below and then resume trading downwards with the target at 1.2050.

Forex Technical Analysis & Forecast 04.06.2021 EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

GBPUSD, “Great Britain Pound vs US Dollar”

After completing the descending wave at 1.4110 and breaking this level to the downside, GBPUSD is expected to continue falling towards 1.4002. Later, the market may correct to test 1.4100 from below and then form a new descending structure with the target at 1.3960.

Forex Technical Analysis & Forecast 04.06.2021 GBPUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDRUB, “US Dollar vs Russian Ruble”

USDRUB is consolidating around 73.28. Possibly, the pair may continue falling towards 72.56. After that, the instrument may start another correction to reach 73.28 and then resume trading downwards with the target at 72.00.

Forex Technical Analysis & Forecast 04.06.2021 USDRUB
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

After finishing the ascending wave at 110.30, USDJPY is consolidating below this level. Today, the pair may correct towards 109.95 and then form one more ascending structure with the target at 110.45.

Forex Technical Analysis & Forecast 04.06.2021 USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDCHF, “US Dollar vs Swiss Franc”

After completing the ascending wave at 0.9037, USDCHF is consolidating around this level and forming an upside continuation pattern. Later, the market may continue trading upwards with the short-term target at 0.9099.

Forex Technical Analysis & Forecast 04.06.2021 USDCHF
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

AUDUSD, “Australian Dollar vs US Dollar”

After finishing the descending wave at 0.7685 and breaking it to the downside, AUDUSD is expected to continue falling and reach 0.7614. After that, the instrument may correct to test 0.7685 from below and then resume trading downwards with the target at 0.7600.

Forex Technical Analysis & Forecast 04.06.2021 AUDUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

BRENT

Brent has completed the ascending wave at 71.77. Possibly, today the asset may correct to reach 70.00 and then form one more ascending structure with the short-term target at 75.55.

Forex Technical Analysis & Forecast 04.06.2021 BRENT
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

XAUUSD, “Gold vs US Dollar”

Gold has completed the descending wave at 1855.32. Today, the metal may correct towards 1882.10 and then resume trading downwards with the first target at 1848.28.

Forex Technical Analysis & Forecast 04.06.2021 GOLD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

S&P 500

The S&P index is still consolidating around 4168.3; it has tested this level from above. Possibly, the asset may expand the range towards 4272.1.

Forex Technical Analysis & Forecast 04.06.2021 S&P500
Risk Warning: the result of previous trading operations do not guarantee the same results in the future


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